He said that as part of the refunding of the lease-revenue bonds for the city hall/library/senor center, an amendment to the CIP is required. He said refunding would save the city $275,000 in interest, and would start seeing the savings in 2014 at about $20,000 to $25,000 per year.

The council unanimously adopted the resolution.

UTILITY RATE

In other news, water representative Kelly Daleiden was present to review results of a utility rate study.

She said, overall, St. Michael has some of the lowest rates in the state, especially since St. Michael’s system treats water with iron and manganese, and other cities do not.